January home sales down year-over-year, report shows

Home sales are off to a slow start in 2015, according to a RE/MAX national housing report released Tuesday.

Sales were down by about 16 percent in Miami from 2014 to 2015. Inventory was also down by nearly 19 percent year-over-year.

From December 2014 to January, home sales in South Florida decreased by 30 percent.

“One month certainly doesn’t make a trend,” RE/MAX CEO and Chairman Dave Liniger said in a statement. “As we saw last year, home sales started rather slow, but rebounded during the prime selling months ….We still need a few more months of data to tell how this market will perform in 2015.”

Listings spent an average of 90 days on the market in January, according to the report, a slight increase from January of last year. — Katherine Kallergis